CFTC Suing Corzine Over MF Global Failure

This transcript has been automatically generated and may not be 100% accurate.

... the the ... selling it on call sign of the collapse of the brokerage on MF Global Wall Street dolls and machete joins us on the money asking me ... to discuss this ... it is so ... pretty to recap this this that we come possibly the brokerage company a futures brokerage that was in the commodities market and a one over billion dollars of customer money just vanished out of the fruit while anyway now don't call sign is the synthetic of what exactly to the top with rent this this this was long expected spent almost two years since the MF Global bankruptcy which ... I'm what is ... notable because it was John core zein a former Goldman Sachs chairman and dad New Jersey governor ... and Senator that had run the farm ... and also because a couple days hours after that they could see the found out that there is about a billion dollars in customer missing ... which was huge news and a historic day said I'm ... basically the idea here is that even if your brokerage company goes bankrupt you to do with your money your investments you'll find his holdings should nothing to pack the Bama I met some of the of the weight of history operates at this ... time it was kind of shocking to walk to the ... right that's when the underpinnings of the market so my MF Global saw important that ... that trust that that that believe that once you put your money never put your money will be segregated ... out away from him that that's the firm is making ... that broke down with MF Global and the case today from the CFTC ... that goes right after the CEO the firm John core zein and youth O'Brien the assistant Treasurer who was most involved in the trenches with moving money ... out ... with that civil charges of ... aiding and abetting customer segregated funds violations Anacor's as Case Ophelia to supervise ... CTC had tape recordings of phone calls that have been released publicly before ... that the layout in their complaint ... one of Cessna's met Ms O'Brien said in a record to look cool cool but because ... he could be game over and quote from the wreck of the perspective of funds when all the time ... to come to accounts on Friday Oct twenty twenty eleven ... yet ... they should actually giving out there in the first place let's not forget that right right ... a TV ad this if you step back from from this case we have is a lot of money moving around ... O'Brien on the bank people leaving the firm ... that Connor parties asking for more collateral ... and that core zein and the leaders that will will face with the decision ... of whether to go out of business go bankrupt right away or whether to try to extend it for couple more days to take to get a merger down ... and write off into the sunset with a little bit more ... of the reputation intact ... wow ... I mean really is interesting so ... aam what ... what could happen soon came here visa visa settle charges by no criminal charges so when a four month jail hero ... now the big for chorus and this is mainly about ... the possibility of a return to Wall Street if he wants me to return the Wall Street ... this case the EPA for all that he could be banned from registration in the futures and commodities business for MF was declared ... CP predict O'Brien and if the scale of the cheese that someone's work and features business for about fifteen or twenty years at least ... I and and and I swear going until the step in and out probably will have a hard time getting back ... at the CTC gets its way their estimate for restitution they're asking for fines in the rescue for some kind of dance and the registrations ... interesting